Submitted by Jim Pugh, Mar 28, 2007 08:35

A man who made so much money he is one of the world's richest men or a university professor?

In the period where the US went from a big creditor nation to a big debtor nation it is bound to feel good and the process can obscure what is happening. Mr. Silber doesn't say that the dollar's reign is inevitable, just that it is hard to displace. We are then playing a game of what will make that happen.

I wonder if an indexed basket of the world's major currencies would be a replacement. to the dollar as a reserve currency. In my scenario the day Saudi Arabia says they want to get paid in this index rather than in depreciating dollars is the event. Maybe they do that in the context of a war between Shites and Sunnis in the mideast?

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